Power and Water Utility Company for Jubail and Yanbu (Marafiq) announced on February 23, 2026 the successful financial closure of the Amiral Industrial Wastewater Treatment and Reuse Project in Jubail Industrial City 2. The Special Purpose Vehicle (Aqua Renew Company), jointly owned by Marafiq (40%), Veolia Middle East (35%), and Lamar Arabia Energy (25%), has executed financing agreements with First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Korea Development Bank, and Qatar National Bank for a total project cost of USD 500 million (approximately SAR 1.875 billion). The project aims to treat complex industrial wastewater streams from the Amiral facility using advanced treatment systems and innovative recovery technologies to support closed-loop reuse and improved energy efficiency, contributing to Saudi Arabia's Vision 2030 environmental resilience and industrial circular economy objectives.

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